Knife River (NYSE:KNF) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Knife River (NYSE:KNF) posted its quarterly earnings data on Tuesday. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11, FiscalAI reports. Knife River had a net margin of 4.87% and a return on equity of 9.97%. The company had revenue of $755.10 million during the quarter, compared to analyst estimates of $726.60 million.

Knife River Stock Performance

Knife River stock opened at $80.74 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 2.39. The company has a market capitalization of $4.57 billion, a PE ratio of 30.93, a P/E/G ratio of 1.36 and a beta of 0.47. The company has a 50 day moving average price of $75.64 and a 200-day moving average price of $75.33. Knife River has a fifty-two week low of $58.72 and a fifty-two week high of $105.23.

Wall Street Analyst Weigh In

KNF has been the subject of several analyst reports. B. Riley Financial began coverage on shares of Knife River in a report on Thursday, January 15th. They issued a “buy” rating and a $92.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a research note on Thursday, January 22nd. JPMorgan Chase & Co. began coverage on Knife River in a research note on Thursday, December 4th. They set a “neutral” rating and a $83.00 target price on the stock. Wells Fargo & Company reduced their price target on Knife River from $81.00 to $75.00 and set an “equal weight” rating on the stock in a report on Thursday, January 29th. Finally, Zacks Research raised Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $91.67.

Institutional Investors Weigh In On Knife River

A number of institutional investors and hedge funds have recently bought and sold shares of KNF. McMillan Office Inc. bought a new position in shares of Knife River during the 4th quarter worth $36,000. Smartleaf Asset Management LLC lifted its stake in Knife River by 1,365.6% in the second quarter. Smartleaf Asset Management LLC now owns 1,363 shares of the company’s stock worth $113,000 after acquiring an additional 1,270 shares during the period. Kestra Advisory Services LLC bought a new position in Knife River during the 4th quarter worth about $184,000. Lido Advisors LLC bought a new position in Knife River during the 4th quarter worth about $211,000. Finally, CIBC Private Wealth Group LLC increased its position in Knife River by 43.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,835 shares of the company’s stock valued at $218,000 after purchasing an additional 863 shares during the period. 80.11% of the stock is owned by institutional investors.

Knife River Company Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.